When the Price of Tablet Devices Decreased in the 2010s

question 152

Multiple Choice

When the price of tablet devices decreased in the 2010s, there was an increase in the demand for computing apps because tablet devices and computing apps are

• A) substitute goods.
• B) capital goods.
• C) inferior goods.
• D) complementary goods.

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Definitions:

Principal

The original sum of money borrowed in a loan, or the amount of the investment, not including the interest or profits.

Agency Relationship

A legal bond where one party, the agent, acts on behalf of another, the principal, in dealings with third parties.

Financial Year End

Financial year end is the completion of a one-year, or 12-month, accounting period; the date when companies must finalize their financial statements and report their financial performance.

Reasonable Period

A span of time that is considered fair and appropriate in a given context, especially in legal and contractual situations.